Archive for March 25th, 2005

Las Vegas Luxury Homes continue to be a great investment. The average Las Vegas estate that cost 1.56 million dollars in March of 2004 is going for 1.77 million dollars this month. This is a 13.5% gain since this same time last year. Wow. Contact MS Las Vegas Real Estate for more information at 888-349-2595.

Goog news for owners of Las Vegas homes! The Commerce Department’s durable-goods report showed orders for items intended to last three years or more grew 0.3% in February, indicating continued strength in economic growth. Separately, new-home sales jumped 9.4% to a seasonally adjusted annual rate of 1,226,000 according to the Commerce Department. “There’s tremendous desire on the part of the American consumer to own a home, and there’s a very constricted supply,” said Joel Rassman, chief financial officer of Toll Brothers Inc., one of the nation’s largest builders of luxury homes. Las Vegas real estate continues to perform with strength and stability. Construction of new Las Vegas homes also continues at a steady pace.

Retail sales across Nevada rose 9.4 percent in January to $3.19 billion while Clark County (Las Vegas & vicinity) sales jumped an even higher 10.8 percent to $2.4 billion, state officials reported Thursday. For the first seven months of fiscal 2005, Nevada merchants have now sold $24.88 billion in goods for a 14.7 percent increase — and taxes based on the sales are now $25 million ahead of projections, state Taxation Department officials said. Is it any wonder that the market for Las Vegas real estate is strong and stable? Apparel and accessory stores tied with food stores with a 9.6 percent jump in sales. Sales of home furniture and furnishings rocketed up 8.2 percent, a direct reflection of the expansion in the market for Las Vegas homes.

Good news for Las Vegas real estate! The consensus opinion seems to be that rising mortgage rates will put only a slight damper on the housing market. Industry analysts and experts point out that housing continues to be one of the top performers in the overall economy. Industry projections still call for 2005 to be the second best year for housing on record. The best year ever was 2004. In the Las Vegas real estate market, closings for both new and existing homes continue to improve as February figures exceeded both January and year ago totals.